China: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in China

The Chinese polystyrene in primary forms market reduced to $X in 2021, dropping by -5.8% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.0% against 2018 indices. Polystyrene in primary forms consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in China

In value terms, polystyrene in primary forms production shrank modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 37%. Polystyrene in primary forms production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports from China

In 2021, shipments abroad of polystyrene in primary forms (excluding expansible polystyrene) increased by 63% to X tons, rising for the third consecutive year after two years of decline. In general, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.1% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, polystyrene in primary forms exports skyrocketed to $X in 2021. Overall, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for polystyrene in primary forms exports from China, with a 26% share of total exports. Moreover, polystyrene in primary forms exports to Vietnam exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+16.1% per year) and the Philippines (+111.4% per year).

In value terms, Vietnam ($X) remains the key foreign market for polystyrene in primary forms (excluding expansible polystyrene) exports from China, comprising 22% of total exports. The second position in the ranking was held by Thailand ($X), with a 9.6% share of total exports. It was followed by the Philippines, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+14.9% per year) and the Philippines (+108.1% per year).

Export Prices by Country

The average polystyrene in primary forms export price stood at $X per ton in 2021, rising by 6.7% against the previous year. In general, the export price showed a slight expansion. The most prominent rate of growth was recorded in 2017 an increase of 35% against the previous year. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports into China

In 2021, after four years of growth, there was significant decline in purchases abroad of polystyrene in primary forms (excluding expansible polystyrene), when their volume decreased by -11.8% to X tons. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 51%. Over the period under review, imports hit record highs at X tons in 2020, and then dropped in the following year.

In value terms, polystyrene in primary forms imports reached $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Over the period under review, imports attained the maximum at $X in 2013; afterwards, it flattened through to 2021.

Imports by Country

Malaysia (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of polystyrene in primary forms imports to China, together accounting for 40% of total imports. These countries were followed by Thailand, Indonesia, Singapore, Vietnam, Iran, the United Arab Emirates and Pakistan, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +115.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene in primary forms suppliers to China were Malaysia ($X), South Korea ($X) and Japan ($X), together comprising 35% of total imports. Thailand, Singapore, Indonesia, Vietnam, Iran, the United Arab Emirates and Pakistan lagged somewhat behind, together accounting for a further 15%.

The United Arab Emirates, with a CAGR of +120.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polystyrene in primary forms import price stood at $X per ton in 2021, increasing by 28% against the previous year. Over the period under review, the import price, however, saw a noticeable decline. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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